PM Shehbaz to Unveil $1 Trillion Economic Transformation Plan on Friday
Prime Minister Shehbaz Sharif has given the green light to the New Uraan Pakistan National Economic Transformation Plan 2024-2029, which will be officially launched at a special ceremony this Friday. The plan aims to guide Pakistan toward sustainable, high economic growth and expand the country’s economy from $374 billion to $1 trillion by 2035.
Ambitious Economic Targets
The plan sets out bold objectives, including:
- Achieving an annual economic growth rate of 9.8%.
- Raising literacy rates by 10% to reach 70%.
- Reducing poverty by 13%.
- Boosting exports to $60 billion by 2029.
- Increasing IT exports by $5 billion annually, supported by the establishment of 100 software technology parks.
Addressing National Challenges
The New Uraan Pakistan plan also targets critical national issues by proposing:
- Reducing subsidies and eliminating circular debt.
- Cutting greenhouse gas emissions by 50% to prioritize environmental sustainability.
- Upgrading the ML-1 railway project with Chinese financial assistance to enhance freight transport by 25% and passenger train services by 15%.
Strategic Framework
The plan is built on a 5Es framework, emphasizing exports, energy, infrastructure, and people empowerment. It has been developed through extensive consultations with public and private sector stakeholders, reflecting a collective vision for the country’s future.
This initiative represents the government’s commitment to transforming Pakistan’s economy and addressing long-standing challenges for sustainable growth.
